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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of the earliest event reported) October 14, 2004
Commission File Number 0-23081
FARO TECHNOLOGIES, INC.
(Exact Name of Registrant as Specified in Its Charter)
Florida 59-3157093
-------------------------------------------- -------------------------------
(State or Other Jurisdiction of Incorporation) (IRS Employer Identification No.)
125 TECHNOLOGY PARK, LAKE MARY, FLORIDA 32746
- --------------------------------------- ----------------
(Address of Principal Executive Offices) (Zip Code)
(407) 333-9911
- --------------------------------------------------------------------------------
(Registrant's Telephone Number, Including Area Code)
- --------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
|_| Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13a-4(c))
Item 7.01. Regulation FD Disclosure
Item 2.02. Results of Operations and Financial Condition
The following information is being furnished under Item 9 and Item 12 of
Form 8-K: Press releases by FARO Technologies, Inc., subject: FARO's New Orders
Grow 35% in the Third Quarter. A copy of the first press release is attached as
Exhibit 99.1 to this Form 8-K. In this press release there was a typographical
error in the second line of the first paragraph where we referred to new orders
in the second quarter, which should have read third quarter. A copy of the
second press release pointing out the correction is attached as Exhibit 99.2 to
this Form 8-K.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunder duly authorized.
FARO TECHNOLOGIES, INC.
By: /s/ Gregory A. Fraser
-------------------------------------
Gregory A. Fraser
Executive Vice President, Secretary,
and Treasurer
Date: October 14, 2004
EXHIBIT INDEX
Exhibit Number Description
- -------------- -----------
99.1 Press Release, dated October 14, 2004
99.2 Press Release, dated October 14, 2004
Exhibit 99.1
FARO's New Orders Grow 35% in the Third Quarter
LAKE MARY, Fla., Oct. 14 /PRNewswire-FirstCall/ -- FARO Technologies, Inc.
(Nasdaq: FARO) today reported sales of approximately $23.4 million in the
fiscal third quarter ended October 2, 2004, a 21.9% increase from
$19.2 million in the third quarter of 2003. The Company also reported new
order bookings of approximately $23.4 million during the second quarter, an
increase of $6.1 million, or 35.3%, compared with approximately $17.3 million
in the year-ago quarter.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000522/FLM035LOGO )
"Based on our 36% growth in new orders year-to-date, we are raising our
sales forecast for 2004 to $94-$100 million," said Simon Raab, Faro's
President and CEO. "We intend to review our earnings guidance for 2004 in our
third quarter earnings release."
The Company expects to issue its complete earnings release for the third
quarter of 2004 on November 4, 2004.
About FARO:
FARO Technologies, Inc. (Nasdaq: FARO) and its international subsidiaries
design, develop, and market software and portable, computerized measurement
devices. The Company's products allow manufacturers to perform three-
dimensional inspections of parts and assemblies on the shop floor. This helps
eliminate manufacturing errors, and thereby increases productivity and
profitability for a variety of industries in FARO's worldwide customer base.
Principal products include the FARO Gage and Gage-Plus(TM), Platinum and
Titanium model FaroArms(R), SI and X model FARO Laser Trackers(R) and a
CAM2(R) family of advanced CAD-based measurement and reporting software. FARO
Technologies is ISO 9001 certified and Guide 25 approved. Learn more at
http://www.faro.com .
This press release contains forward-looking statements (within the meaning
of the Private Securities Litigation Reform Act of 1995) that are subject to
risks and uncertainties, such as statements about our plans, objectives,
projections, expectations, assumptions, strategies, or future events.
Statements that are not historical facts or that describe the Company's plans,
objectives, projections, expectations, assumptions, strategies, or goals are
forward-looking statements. In addition, words such as "may," "believes,"
"anticipates," "expects," "intends," "plans," "seeks," "estimates," "will,"
"should," "could," "projects," "forecast," and similar expressions or
discussions of our strategy or other intentions identify forward-looking
statements. Other written or oral statements, which constitute forward-looking
statements, also may be made by the Company from time to time. Forward-
looking statements are not guarantees of future performance and are subject to
various known and unknown risks, uncertainties, and other factors that may
cause actual results, performances, or achievements to differ materially from
future results, performances, or achievements expressed or implied by such
forward-looking statements. Consequently, undue reliance should not be placed
on these forward-looking statements.
Factors that could cause actual results to differ materially from what is
expressed or forecasted in forward-looking statements include, but are not
limited to:
* our inability to grow new orders in the fourth quarter of 2004 at or
near the level of the first three quarters of 2004;
* the cyclical nature of the industries of our customers and the financial
condition of our customers;
* the failure to effectively manage our growth;
* the other risks detailed in the Company's Annual Report on Form 10-K
and other filings from time to time with the Securities and Exchange
Commission.
Forward-looking statements in this release represent the Company's
judgment as of the date of this release. The Company undertakes no obligation
to update publicly any forward-looking statements, whether as a result of new
information, future events, or otherwise.
SOURCE FARO Technologies, Inc.
-0- 10/14/2004
/CONTACT: Greg Fraser, EVP and CFO, FARO Technologies, Inc.,
+1-407-333-9911; or Vic Allgeier of The TTC Group, +1-212-227-0997, for FARO
Technologies, Inc./
/Photo: http://www.newscom.com/cgi-bin/prnh/20000522/FLM035LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com /
/Web site: http://www.faro.com /
(FARO)
CO: FARO Technologies, Inc.
ST: Florida
IN: AUT MAC STW CPR
SU: ERP
Exhibit 99.2
/C O R R E C T I O N -- FARO Technologies, Inc./
In the news release, "FARO's (Nasdaq: FARO) New Orders Grow 35% in the
Third Quarter" issued earlier today by FARO Technologies, Inc. over PR
Newswire, we are advised by the company that the first paragraph, second
sentence, should read "during the third quarter," rather than "during the
second quarter," as originally issued inadvertently.
SOURCE FARO Technologies, Inc.
-0- 10/14/2004 C FLTH023
/PRNewswire -- Oct. 14/
(FARO)
CO: FARO Technologies, Inc.
ST: Florida
IN: AUT MAC STW CPR
SU: ERP